This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Toyota President to Go Before Congress

Updated from 12:13 a.m. EST

TOKYO ( TheStreet) -- Toyota (TM - Get Report) President Akio Toyoda said he will testify before Congress next week after being criticized for first saying he would send Toyota's U.S. executives instead.

Toyoda's acceptance of the invitation from Congress comes as the world's No. 1 automaker faces a U.S. government investigation into potential power steering problems with the Corolla, the world's top-selling car.

Toyoda said he looks "forward to speaking directly with Congress and the American people."

Toyota has recalled about 8.5 million of its cars because of problems with sticking gas pedals, floor mats and braking systems. The company has received criticism for its slow response to the recalls.

Toyota's president will be joined in his testimony by Yoshimi Inaba, chairman and CEO of Toyota Motor North America, and Jim Lentz, president of Toyota Motor Sales USA.

The U.S. Transportation Department formally opened a preliminary investigation into 487,000 Toyota Corolla and Corolla Matrix compacts from the 2009-2010 model years over possible steering problems at highway speeds, the Associated Press reports. The government has received 168 complaints and reports of 11 injuries and eight crashes on the Corolla and Matrix compacts with electric power steering.

Toyota shares fell 1.8% in Tokyo Friday.

-- Reported by Joseph Woelfel in New York.

Follow TheStreet.com on Twitter and become a fan on Facebook.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
TM $138.22 0.00%
AAPL $132.54 0.00%
FB $80.54 0.00%
GOOG $540.11 0.00%
TSLA $247.73 0.00%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs